Stamp Duty Calculator
Working out the amount of stamp duty you have to pay can become confusing due to the different approaches by each state. Just fill in the state, property purchase price, and type of property to calculate your property stamp duty.
Calculate stamp duty for your land based in ACT, NSW, NT, QLD, SA, TAS, VIC, WA and across all Australian suburbs with our stamp duty calculator
Understanding Stamp Duty
Buying a house is the largest transaction that most people will make and the sums involved mean that the amount of stamp duty payable can be a problem. But what is stamp duty?
It is a tax levied by all states and territories on property purchases. The stamp duty buyers pay is based on the property purchase price, location, and loan purpose. Take note that some states charge different rates on investment properties than on places of residence.
Working out the amount you have to pay can become confusing due to the different approaches employed by each state and territory. Beyond that, there are concessions for first-time buyers and different rates if you're buying land.
How is stamp duty calculated?
Stamp duty is calculated by applying a sliding scale of taxation, with percentages increasing according to the value of the property. The general rule is that the cheaper the property, the less tax will be paid. Most states and territories have a system that will slot your property into a value category ($100-$200,000), and will ask for a lump sum plus an extra amount for every $100 over the lower end of the category (e.g. $100,000).
Northern Territory does not employ a classification system as such, but uses a formula to work out the rates of stamp duty, based on the value of the house. Given the different approaches taken, the best advice is to visit your state revenue office for specific advice on your stamp duty situation. Almost all have stamp duty calculators on their websites that will tell you how much you'll need to pay out in stamp duty for the house you're buying. Use the calculator provided above to calculate stamp duty.
Is there a discount for first-home buyers or low-income earners?
Most states and territories have a first-time buyer concession in place for stamp duty. This is designed to make it easier for people to get their first home. The problem is that they differ quite considerably.
New South Wales
NSW is probably the most generous state. It has a system in place called the First Home - New Home scheme. Eligible purchasers are given exemptions from transfer duty on new homes valued up to $550,000, and concessions for new homes valued between $550,000 and $650,000.
Moreover, eligible purchasers buying vacant blocks of residential land to build their homes will pay no duty on vacant land valued up to $350,000. They will also receive concessions for vacant land valued between $350,000 and $450,000.
Australian Capital Territory
The ACT has the Home Buyer Concession Scheme (HBCS), which assists those who want to purchase a new residential home or residential vacant land by charging stamp duty at a concessional rate. The upper and lower value thresholds (from which the concessional rate of duty is calculated) for new or substantially renovated residential homes (i.e. eligible property) and residential land (i.e. eligible vacant blocks) are updated every six months (usually between 1 January and 1 July) to ensure that they remain current.
From 1 September 2016, the Northern Territory government introduced increased stamp duty assistance for first-home buyers who purchased an established home up to the value of $650,000. The First Home Owner Discount (FHOD) is a full stamp duty concession on the initial $500,000 value of the home, which equates to stamp duty savings of up to $23,928.60.
First-home buyers who are building or acquiring new homes are not entitled to the FHOD. However, they may be eligible for the $26,000 First Home Owner Grant (FHOG).
Western Australia has a concessional rate for houses less than $200,000 in value, as well as a first-home owner rate (FHOR) of transfer duty for eligible first-home buyers. To be eligible for the FHOR, the unencumbered value of the home must not exceed $530,000. When the dutiable value of the home does not exceed $430,000, no duty is payable.
To be eligible for the FHOR of duty for the purchase of vacant land in Western Australia, the unencumbered value of the vacant land must not exceed $400,000. When the dutiable value of the land does not exceed $300,000, no duty is payable.
Mortgage stamp duty was abolished on 1 July 2009. Mortgages can be registered at the Lands Titles Office unstamped.
Queensland offers a first-home concession for first-home buyers who are buying homes valued at less than $550,000.
From July 1 2017, first-home buyers who purchase a new or established home worth up to $600,000 won’t pay stamp duty as long as they live at that property for at least 12 months.
Are you eligible for the discount?
Eligibility differs for each state, but the criteria remain roughly the same for the first-time buyer concession:
- Applicants must be a person, not a company or trust
- Applicants must be a permanent resident or Australian citizen
- Applicants must be over 18 years of age
- No co-purchaser may have previously owned a residential property within Australia
- Must be a principal place of residence for a continuous period of six months.
It's advisable to contact your state revenue office website to gain a quotation for your intended property.
Mortgage duty - are you liable?
Mortgage duty is no longer levied in all Australian states and territories, as it was seen as an unwelcome extra burden on top of transfer duty.
In NSW and Tasmania, mortgage duty was abolished on 1 July 2016. In Queensland and Western Australia, mortgage duty was abolished on 1 July 2008.
In South Australia, mortgage duty was abolished on 1 July 2009. In the ACT and Victoria, mortgage duty was likewise abolished on home loans.